The Life Insurance Corporation of India (LIC) announced on Friday its partnership with Sahaj Insurance Services Private Limited to enhance insurance penetration in rural and semi-urban regions throughout the country.

This partnership will leverage Sahaj’s assisted digital service network to improve access to LIC’s life insurance products and services. It aims to help consumers comprehend, manage, and enroll in policies, especially in areas where awareness about insurance has typically been low.

A dedicated insurance division has been established to provide affordable and easy-to-understand products, aided by trained experts who assist clients with onboarding, servicing, and claims, as indicated in the statement.

“Our partnership with Sahaj Insurance Services Private Limited will enable us to penetrate further into rural and semi-urban areas, ensuring that a larger number of citizens can benefit from the security and assurance that LIC provides,” stated Soumendranath Bandyopadhyay, Regional Manager of LIC.

Biswajit Chatterjee, Director of Sahaj Insurance Services Private Limited, remarked that the collaboration represents a crucial advance in making insurance more accessible, simpler, and genuinely inclusive for the people of Bharat.

This partnership is anticipated to enhance awareness, bolster policy servicing, and promote wider acceptance of life insurance, thereby contributing to India’s overarching goals of financial inclusion and social security, according to the release.

Sahaj centers will also provide access to government-backed insurance and social security programs, in addition to life and health insurance products, as part of efforts to enhance financial inclusion.

The company aims to sell around 10 crore insurance policies during its first year of operations, concentrating on low-premium and highly relevant products designed for rural and semi-urban households.

Sahaj Insurance Services operates as a wholly owned subsidiary of Sahaj Retail and is part of the Kanoria Foundation initiative.

The U.S. government has highlighted issues related to manipulation and exploitation within the H-1B visa program as a primary reason for its decision to revise the annual visa selection process.

In a federal notice this week, the Department of Homeland Security stated that the modifications were essential to enhance “process integrity” and maintain fairness in the cap-subject H-1B program.

These revised regulations specify various practices that the DHS identified as concerning during recent application periods, such as wage manipulation, inconsistent job data, and the submission of multiple registrations linked to affiliated entities.

Emphasizing their point, the DHS indicated that the updates aim to decrease the likelihood of employers exploiting the system and to make sure that selections correspond to genuine job offers rather than tactical registrations.

One issue raised in public comments was the risk of employers artificially inflating wages on paper to increase their chances of selection.

The DHS noted that the new rule includes measures to dissuade such actions and to promote coherence between registrations and final petitions.

The department also highlighted concerns over manipulation related to job locations. Some commenters cautioned that indicating higher-paying locations during registration while planning to assign workers elsewhere later could undermine the system’s credibility.

The DHS stated that it would emphasize consistency between the data submitted during registration and the specifics provided in the complete petition, including job responsibilities, wage amounts, and work locations.

Another concern addressed was the use of multiple registrations for a single worker, as the DHS explained that it pertains to separate entities filing different registrations for one beneficiary, skewing selection results and diminishing trust in the process.

The final rule strengthens certification requirements and delineates penalties for inaccurate or misleading submissions. The DHS noted that this is aimed at deterring misuse and alleviating unnecessary pressure on adjudication resources.

While the department tackled issues surrounding the manipulation of job classifications under the Standard Occupational Classification system, several commenters warned that employers might select job codes strategically to justify higher wages without demonstrating actual job responsibilities, according to the federal notice.

The objective of the rule was to provide a clearer legal standard and diminish ambiguity, aiding both employers and regulators in understanding compliance requirements, it stated, adding that it is confined to modifications within current H-1B regulations and does not introduce new environmental, tribal, or federalism implications that necessitate further review.

The department asserted that the updated process would enhance transparency while ensuring continued access to high-skilled workers.

The H-1B program, with its annual cap set by Congress, has been under continuous scrutiny for issues of fraud, fairness, and enforcement, as the demand for visas significantly surpasses supply.

U.S. immigration officials have increasingly turned to regulatory changes as opposed to legislative action to remedy deficiencies in the system amid stalled reforms on Capitol Hill.

In another remarkable achievement, the Indian Space Research Organisation (ISRO) successfully launched the LVM3-M6 rocket on Wednesday, which carried the new generation BlueBird Block-2 communication satellite from the United States.

“Mission accomplished. The LVM3-M6 mission has successfully positioned the BlueBird Block-2 satellite in its designated orbit,” ISRO announced in a post on X.

The communication satellite, weighing 6,100 kg, is the heaviest payload ever launched into Low Earth Orbit (LEO) in the history of LVM3.

Previously, the heaviest was the LVM3-M5’s Communication Satellite 03, which weighed around 4,400 kg and was successfully launched by ISRO on November 2 into Geosynchronous Transfer Orbit (GTO).

This satellite is part of an advanced generation of BlueBird Block-2 communication satellites, aimed at delivering space-based cellular broadband connectivity directly to standard mobile smartphones.

This mission signifies the sixth operational flight of the LVM3 launch vehicle. It also marks a substantial advancement in telecommunications technology, as the substantial 6,100 kg payload is intended to offer high-speed 4G and 5G connectivity straight to smartphones.

“Congratulations to Team ISRO on the successful launch of LVM3-M6 carrying BlueBird Block-2. Under the visionary guidance of PM Narendra Modi, ISRO continues to reach new heights of success, highlighting India’s expanding capabilities in space technology,” Union Minister Dr. Jitendra Singh stated in a post on X.

The BlueBird communications satellite, created by the US-based AST SpaceMobile, is set to be launched aboard India’s most powerful rocket, the LVM3. It stands out as one of the heaviest commercial satellites, with a weight of 6.5 tonnes. The Low Earth Orbit (LEO) satellite arrived in India from the US on October 19.

This marks the second collaboration between the US and ISRO. In July, ISRO successfully launched the $1.5 billion NASA-ISRO Synthetic Aperture Radar Mission (NISAR), which is designed to capture high-resolution Earth images and can penetrate fog, dense clouds, and layers of ice.

AST SpaceMobile has already deployed five satellites – BlueBird 1 to 5 – in September 2024. Aiming to further extend this network, the company has partnered with over 50 mobile operators across the globe.

India’s GDP growth is anticipated to reach 7.5 percent in FY26 and 7 percent in FY27, according to a report released on Monday, which also forecasts an 8.3 percent nominal GDP growth for the current fiscal year.

The report of CareEdge Ratings indicated that the robust growth in FY27 is bolstered by a potential US-India trade agreement, low inflation rates, reduced interest rates, and tax benefits.

Moreover, the positive outlook for capital expenditure, highlighted by the substantial order books of companies in the capital goods sector, contributes favorably to the investment landscape of the economy.

The growth in the first half of FY26 has been supported by strong agricultural performance, a decrease in income tax obligations, the streamlining of GST rates, cuts in RBI rates, festive demand, and increased exports.

The report suggested that GDP growth is likely to decelerate to around 7 percent in the second half due to the diminishing effects of accelerated exports and a slowdown in consumption demand after the festival season.

By the last quarter of FY26, the low base effect will diminish, causing the deflator to rise from its current low level.

The report predicted that the average CPI inflation will be around 2.1 percent in FY26, increasing to 4 percent in FY27, with the wholesale price index expected to remain stable in FY26 and rise by 2.5 percent in FY27.

It was noted that the current account deficit is likely to stay around 1 percent of GDP, and the government may adopt a more gradual approach towards fiscal consolidation, estimating the fiscal deficit to GDP ratio at 4.2-4.3 percent in FY27.

The report also mentioned that global growth is expected to average 3.1 percent over the next five years, remaining below the pre-pandemic average of 3.7 percent.

Over the next five years, growth rates in the US, UK, and Euro Area are expected to fall slightly below their historical figures, while China’s growth is projected to underperform its historical average by approximately 3 percentage points.

The Securities and Exchange Board of India (SEBI) stated on Sunday that there will be no alterations to the current regulatory framework concerning short selling.

The market regulator emphasized that “a news article inaccurately reported potential changes in the short selling framework set to take effect from December 22, 2025.”

On Wednesday, SEBI approved a thorough reform of mutual fund regulations aimed at enhancing cost transparency and alleviating the expense load on investors.

This overhaul was approved by the SEBI board and will be enacted through the new SEBI (Mutual Funds) Regulations, 2026, which will replace the existing framework from 1996 following an extensive review. Central to this reform is a reorganization of the Total Expense Ratio (TER) framework.

SEBI has sanctioned the exclusion of statutory and regulatory charges—including securities and commodities transaction tax (STT/CTT), GST, stamp duty, SEBI fees, and exchange costs—from TER calculations. These charges will now be billed on an actual basis, in addition to the Base Expense Ratio (BER), providing investors with a clearer understanding of fund management expenses.

Under the newly structured system, the TER will consist of three parts: base expense ratio, brokerage costs, and statutory or regulatory charges.

Additionally, SEBI has eliminated the extra 5 basis points (bps) expense allowance that was previously associated with exit loads.

The regulator has tightened the norms related to brokerage while revising previous proposals. For equity cash market transactions, mutual funds will be allowed to pay brokerage of up to 6 bps, an increase from the previously suggested 2 bps but still significantly lower than the existing levels of up to 12 bps.

For derivative transactions conducted by mutual funds, the brokerage caps have been adjusted to 2 bps, excluding statutory costs.

SEBI has also approved stricter limits on distribution commissions and permitted performance-linked expense structures for specific mutual fund schemes, subject to regulatory guidelines.

Moreover, the board endorsed reductions in base expense ratio limits across various categories. The BER cap for index funds and exchange-traded funds (ETFs) has been reduced to 0.9 percent from 1.0 percent.

A similar decrease has been made for liquid-scheme-based fund of funds. For close-ended equity schemes, the base expense ratio limit has been lowered to 1 percent from 1.25 percent.

SEBI stated that the updated regulations are intended to better align mutual fund expenses with actual costs while enhancing transparency and investor protection throughout the industry.

The Employees’ Provident Fund Organisation (EPFO) called on employers on Thursday to take advantage of its special enrolment initiative, which offers a six-month compliance period for the voluntary enrolment of eligible employees who were excluded from EPF coverage in the past, specifically from July 1, 2017, to October 31, 2025.

EPFO has introduced the Employees’ Enrolment Scheme (EES)-2025, a unique one-time facilitation program designed to broaden EPF coverage and address previous non-compliance issues in a straightforward and employer-friendly way, according to an official announcement.

The EES-2025 includes a special compliance period of six months beginning in November 2025, allowing employers to voluntarily register eligible employees who missed out on EPF coverage during the previous timeframe and to rectify previous non-compliance.

Organizations that have yet to be covered under the EPF Act are invited to apply for inclusion in this campaign and subsequently declare and enroll such qualified employees, the announcement stated.

Under the EES-2025, when employee contributions were not deducted before, employers will only need to pay the employer’s portion of contributions, along with interest as per Section 7Q, necessary administrative fees, and penal charges capped at a one-time payment of Rs 100, which will be recognized as complete compliance across all three EPFO schemes.

Businesses under assessment inquiries are also qualified for the scheme. Additionally, benefits under the Pradhan Mantri Viksit Bharat Rojgar Yojana may also apply, subject to the scheme’s conditions and requirements.

The EPFO has encouraged all employers to seize this time-sensitive opportunity and support the national goal of “Social Security for All.”

For this purpose, EPFO will reach out to identified defaulting employers via SMS and email, urging them to make use of the EES 2025 one-time relaxation to rectify their defaults.

A nationwide awareness initiative has been launched to educate employers regarding the advantages and features of the scheme.

At the same time, discussions have been initiated with various government entities to facilitate the inclusion of contractual and casual workers within the EPF system, the statement added.

Finance Minister Nirmala Sitharaman announced on Wednesday that the government’s primary objective for the upcoming financial year (2026-27) will be to lower the country’s debt-to-GDP ratio.

While addressing a media gathering, Sitharaman emphasized the importance of reducing the debt-to-GDP ratio, which exceeded 60 percent during the Covid years.

“It is already declining, but we need to continue to lessen it, and this will be a major emphasis in the next financial year,” the Finance Minister stated, pointing out that Reserve Bank of India reports indicate concerning debt-to-GDP ratios in certain states.

“Unless we manage within the Fiscal Responsibility and Budget Management Act (FRBM) limits and reduce high-interest debt, states will borrow to pay off loans rather than for development, which is a poor fiscal strategy. This endangers the 10-year momentum for Viksit Bharat by 2047,” she emphasized.

The Finance Minister noted that the Central government has established targets for transparency in budgeting, aiming to ensure that fiscal management aligns with accountability standards.

“We’ve lowered the debt-to-GDP ratio from over 60 percent after Covid; it’s decreasing, with debt reduction being a central aim for the next financial year (the fiscal deficit remains a key indicator). Entrepreneurs in banking note the evolving ecosystem,” she remarked.

Sitharaman mentioned that the government is also focused on enhancing the bond market to facilitate increased funding.

The discipline demonstrated by the Union government under Prime Minister Narendra Modi‘s consistent leadership—now in its third term—enhances India’s ability to negotiate globally. This strength comes from a stable government, she remarked.

Sitharaman further indicated that through financial inclusion, access to credit via Mudra, and widespread bank accounts, the credit profiles of all Indians have expanded, allowing for formal bank credit.

“I assert this because we can aspire to an India contributing 25 percent to global trade—25 percent of global trade should originate from India. This is the benchmark for Viksit Bharat: rejuvenate manufacturing, agriculture, value addition, and the services sector (which has grown to over 60 percent of GDP on its own, with minimal government intervention—not only IT, but also tourism and hospitality),” the Finance Minister stated.

She acknowledged that private sector research and development contributes value.

“The Opposition has raised accusations and claims that despite corporate tax reductions in 2019, capacity is not expanding and that corporations are profiting without investing. That critique is unwarranted. The reduction was essential, and businesses must grow within the nation. Prime Minister Modi supports corporations to create jobs and boost GDP. There are questions regarding why they aren’t investing more, which is acceptable as it is ultimately their decision. GCCs and data centers create jobs, necessitating energy security—thus the approval of the nuclear bill, alongside the adoption of small modular reactors as clean energy options along with pumped storage, hydro, solar, and wind,” Sitharaman observed.

“Navigating geoeconomics represents a significant opportunity for steady growth, maintaining this level each year—something that the people of India are accomplishing. Each of us, including all political entities and critics, should acknowledge this, as credit is due to the people of India. Contrary to many predictions, whether during Covid or not, the populace did not remain passive; the resilience of India is a narrative that we must all support and facilitate for decades to come.”

The Finance Minister expressed concern that “globally, trade is neither fair nor free. India endures criticism for being introspective or a ‘tariff king’, yet tariffs are weaponized—India defends itself against dumping, while others do not face scrutiny.”

“This is the new reality; India must negotiate prudently by leveraging its economic strength,” she concluded.

Reserve Bank of India (RBI) Governor Sanjay Malhotra anticipates that key policy rates will stay low for an extended period, according to the RBI’s forecasts, as the Indian economy is experiencing strong growth and inflation is well managed, as stated in a Financial Times report.

Malhotra additionally remarked that the nation’s economic expansion might exceed the RBI‘s estimates if the trade agreements currently under negotiation with the EU and the US are finalized.

He noted that the effect of the US trade agreement could potentially add approximately half a percentage point to growth, as mentioned in the FT report.

While the central bank has not analyzed the potential effect of the EU trade deal in depth, it is expected to enhance growth as well, he explained.

When questioned about concerns raised by some economists regarding the reliability of India’s economic data, Malhotra acknowledged that revisions do occur but maintained, “I believe the figures are quite reliable.”

On December 5, Malhotra revealed a reduction of 25 basis points in the repo rate, lowering it from 5.5 percent to 5.25 percent, aimed at stimulating economic growth.

He pointed out that the economy’s remarkable growth of 8.2 percent in the second quarter of the current fiscal year, combined with a significant drop in inflation to 1.7 percent, has created a unique “Goldilocks period” for India’s economic landscape.

He added that the favorable inflation situation has allowed room for a repo rate cut to bolster growth. Additionally, the RBI has revised its GDP growth forecast for the country upward to 7.3 percent from the previous 6.8 percent.

Malhotra also conveyed that the RBI plans to enhance liquidity in the economy through open market operations involving the purchase of government securities amounting to Rs 1 lakh crore. Moreover, the RBI will establish a dollar-rupee swap agreement worth $5 billion.

Furthermore, Malhotra stated that the RBI has resolved to maintain a “neutral policy stance.”

A neutral stance suggests neither an increase nor decrease in liquidity, ensuring a careful balance between managing inflation and supporting growth. The RBI has adhered to this neutral position as it awaits the effects of previous monetary policy easing and the implications of trade discussions.

The State Bank of India (SBI) has revealed slight decreases in its primary lending rates and certain term deposit rates, starting December 15.

The interest rate for deposits with a maturity of 2 to less than 3 years has been lowered to 6.40 percent from 6.45 percent. Senior citizens will enjoy a 50 basis points advantage, bringing their rate down to 6.90 percent from 6.95 percent. Other retail term deposit categories remain unchanged, as stated in an announcement.

These adjustments affect domestic retail term deposits under Rs 3 crore, the Marginal Cost of Funds-based Lending Rate (MCLR), the External Benchmark Linked Rate (EBLR), and the Base Rate.

The bank has also reduced the rate for the well-known 444-day “Amrit Vrishti” deposit to 6.45 percent from 6.60 percent.

Additionally, SBI has lowered the borrowing costs for home, auto, and MSME loans by decreasing the MCLR rates across all tenors by 5 basis points.

The MCLR for overnight and one-month loans has been decreased to 7.85 percent, while rates for three months, six months, one year, two years, and three years have been set at 8.25 percent, 8.60 percent, 8.70 percent, 8.75 percent, and 8.80 percent respectively.

Moreover, the External Benchmark Lending Rate (EBLR), which is used to set the rates for many floating-rate retail loans, has been reduced by 25 basis points to 7.90 percent from 8.15 percent.

The Base Rate or BPLR for a small group of legacy borrowers has been adjusted down to 9.90 percent from 10.00 percent, effective on the same date.

Earlier this week, the government announced that there has been no capital infusion into public sector banks since the financial year 2022-23, as these banks have notably enhanced their financial performance, becoming profitable and strengthening their capital base.

In the meantime, the anticipated reduction in goods and services tax (GST) is projected to decrease consumer price index (CPI) inflation by about 25 basis points during the September–November 2025 period and could lead to a reduction of 35 basis points this fiscal year (FY26), according to a report by the State Bank of India (SBI).

P. Kumaran, Secretary (East) of the Ministry of External Affairs (MEA), emphasized India’s position on the global stage as a nation with a rich civilization and diverse heritage, drawing upon the principles of Vasudhaiva Kutumbakam—the concept of the world as one family—and Sarva Dharma Samabhav, which champions equal respect for all faiths.

According to the MEA, P. Kumaran led India’s delegation at the 11th United Nations Alliance of Civilizations (UNAOC) in Riyadh, Saudi Arabia, where he presented India’s national statement during the High-Level Meeting of the Group of Friends of UNAOC.

In his speech, he underscored the significance of UNAOC in fostering harmony among nations and cultures worldwide.

The 11th UNAOC, hosted by Saudi Arabia in Riyadh from December 14–15, revolves around the overarching theme, “UNAOC: Two Decades of Dialogue for Humanity — Advancing a New Era of Mutual Respect and Understanding in a Multipolar World.”

In a press release, UNAOC noted that this global forum arrives at a pivotal moment in history, characterized by increasing divides, widespread conflicts, and diminishing confidence in the effectiveness of global governance structures and the multilateral system.

It gathered political leaders, international and regional organizations, religious figures, and faith representatives, alongside members of the private sector, civil society, academia, youth, arts, sports, and media, all aiming to renew their collective commitment to the enduring significance of dialogue, mutual respect, and understanding.

As UNAOC approaches its third decade, the forum presents a perfect opportunity to celebrate the 20th anniversary of UNAOC and to outline its future direction in the quest for lasting peace.

Established in 2005 as a political initiative by Kofi Annan, the former UN Secretary-General, the UNAOC was co-sponsored by the Governments of Spain and Turkey.

Annan formed a High-Level Group of experts tasked with investigating the roots of polarization between societies and cultures and suggesting a practical action plan to address the issue.

The report produced by the group offered an analysis and presented actionable recommendations that serve as the foundation for UNAOC’s implementation plan.